Setting up a UG in Germany
Wanting to cater to the impatient foreign businessman, my fees are all-inclusive! This simply means that you only pay me and I take care paying everyone else -- a great relief for you already. You will not have to question the legitimacy of any invoice.
Pick your choice between a standard set-up as first described or a more individual one as described further down.
Introduction – all about a UG in Germany
If you’re a foreigner and you want to open a German company, you have a broad spectrum of options. One of the most common legal forms for start-up businesses is a German Limited Liability Company or with its German acronym “UG”. A “Unternehmergesellschaft (haftungsbeschränkt)” offers a simple structure typically designed for private companies. When you do not wish to come to Germany, then you can found it and run it from abroad. I can represent you at the notary and other authorities and partially at a bank.
Founding a UG in Germany is something straight forward but only when you fund the company with cash. This offer is exclusively for cash founding. To answer a typical question in advance. Yes, the money can be used afterwards but this needs to be carefully structured. Since you wish to start making business as soon as possible, may I point out that this may practically happen as soon as the articles of association have been signed at the notary. The company will however only exist when it has been entered to the commercial registry which takes a few weeks time. Once the company has been formally founded (= entry in commercial registry), then ex officio all rights and duties will be those of the company and not anymore of the acting person.
Requirements for Standard Formation
- The minimum share capital for a UG is € 1.
- The minimum number of shareholders is one. This offer can contain up to three shareholders.
- The standard formation may only have one director.
- A physical address is required. (A virtual office is only acceptable with a physical address here).
- Description of the line of business.
- The establishment of a new UG requires
- the notarization of the articles. We will supply though standard but also very future friendly articles of association.
- plus appointment of the first managing director(s),
- the application to the commercial register and the registration
- The shareholder (or his representative) has to sign before a German notary a (short) deed on the incorporation, including the articles of association and the appointment of one or several managing director(s).
Founding a UG will need articles of association signed in front of a notary. This company’s contract determines how the shares and profit are allocated, how many legal representatives, etc. The rest is then taken care of by the notary. My services for setting-up will be to provide a standard articles of association, unbinding but reliable translation of that contract into English for your understanding.
The managing director ought to then open a bank account. However, my approach does not make it necessary that the notary will first expect funding and then apply for registration. The notary will file the application latest the next day after the articles of association have been signed in front of him. Having several contacts to different banks, I can introduce you to them. Virtually all German banks require the personal appearance of the founder to open a bank account. If it is inconvenient for you to visit Germany – just to open a bank account – we will still have a solution. Though it belongs to my services to introduce you to my contacts, I cannot guarantee that they will open an account for you.
Services for Standard Setup of UG
Below services are for a standard set-up. Standard implies that you have at most three shareholders, one director and the statutory capital of € 1. When you are in hurry, please consider buying a virgin ready-made UG from our associate Beam my Presence to Germany UG. You can always change the structure of your company at any time.
Standard Company formation:
- bank account introduction, either organizing an appointment and accompanying you or organizing an account via remote identification – with at most two banks,
- oral translation at notary (German to English), if not representing you at the notary with sufficient power of attorney,
- registering at trade office,
- paying fees for:
- notary fees,
- Commercial Registry fees,
- trade office fees.
The services will be practically the same as the standard setup of a UG but with some major differences. Your company will have:
- more than one director,
- maybe more than three shareholders,
- initial capital of up to € 300,
- individualized articles of association.
These differences are all legal. However, the law maker reduced the legal costs as shown for the standard formation in order to enhance low budget corporate start-ups.
Please understand that I would love to serve your personal needs and therefore crave to know what you need in addition, or what you do not need from the described services above. This also means I would be willing to quote you a lower price when you need less services.
Urgent processing for formation and registration: Buy a ready-made UG from our associate Beam my Presence to Germany UG!
N.B. Consultation, i.e. discussing if UG is the right form or not, any tax implications, anything at all,
is not included in this price!
When interested, please arrange a consultation in advance to founding.
- The company can be set up in 3 - 4 weeks upon receipt of all documentation – including registration in Commercial Registry and notary.
- Company can operate after visiting the notary and signing the documents in front of him.
- Company will be entered into commercial registry about one week after filing by notary and payment of fees for Commercial Registry.
While founding your company, do consider if you can use a virtual office in Berlin.
|Beam my Presence to Germany UG (limited liability) is my associate in providing virtual offices for your GmbH or UG or representation in Germany.|